Biotech company Kailera Therapeutics made its debut on the Nasdaq Global Select Market on Friday, opening at $26 per share under the symbol KLRA, jumping 63% from the initial public offering price (IPO) of $16 apiece.
The clinical-stage drug startup sold over 39 million American shares in its IPO, with a record-breaking $625 million raise, making it the largest biotech debut of all time, beating Moderna's $600 million raise in December 2018. The debut gave the obesity-care firm an estimated market valuation of about $2.06 billion.
The company, which develops a broad, advanced, and differentiated portfolio of injectable and oral therapies for the treatment of obesity, was founded in May of 2024 and is headquartered in Waltham, Massachusetts.
https://breakingthenews.net/Article/Kailera-surges-63-to-dollar26-in-Nasdaq-debut/66095046
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